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Leadership Changes at CrossAmerica, Couche-Tard

Wholesale, retail veteran joins distributor as CEO Bergeron moves to parent company

ALLENTOWN, Pa. -- A planned leadership change within the executive team at CrossAmerica Partners LP will bring Gerardo Valencia to the wholesale fuels distributor as president, effective March 1. He will join the company’s board of directors. Following a transition period, the company will appoint Valencia CEO.

To ensure a smooth leadership transition, Jeremy Bergeron will step down as president of CrossAmerica on March 1 and continue in his role as CEO until the time of the transition. Bergeron will assume a new, not-yet-revealed leadership role within CrossAmerica’s parent company Alimentation Couche-Tard Inc. in the second or third quarter of calendar 2018. At that time, Valencia will assume the additional role of CEO of CrossAmerica.

“The board of directors of CrossAmerica is thrilled to have Gerardo join the team and are confident that he will lead the partnership to an exciting future,” said Alex Miller, chairman of the CrossAmerica board and senior vice president of operations and global fuels for Couche-Tard. “Gerardo's over 20 years of experience in the downstream oil industry, convenience and fuel retailing in North America and Europe will help propel CrossAmerica to its next chapter.”

Prior to joining CrossAmerica, Valencia was responsible for retail operations, asset management, business development, national wholesale fuel sales and strategy for markets around the globe for BP Plc. He was president of ampm, BP’s convenience-store subsidiary, head of sales and marketing for the U.S. West Coast and, in his last role within BP, he was responsible for retail strategy and implementation of programs across North America.

“Gerardo is a proven leader and brings with him extensive experience across both the wholesale and retail businesses,” said Bergeron. “He is an excellent addition to this terrific CrossAmerica team, and I look forward to working with him to grow the business and build more value for our unitholders.”

“I believe that combining my deep background in the fuel and retail industry with this talented and seasoned team will help CrossAmerica reach a new level of growth and development,” said Valencia. “I am honored to have the opportunity to be part of this organization, and I look forward to working with Jeremy and the entire CrossAmerica organization.”

Bergeron guided CrossAmerica “through a very challenging MLP market period, [and] continues to transition the organization through its initial integration with Couche-Tard and provide a strong vision for the partnership,” said Miller.

CrossAmerica Partners is a wholesale distributor of motor fuels and owner and lessor of real estate used in the retail distribution of motor fuels. Its general partner, CrossAmerica GP LLC, is a wholly owned subsidiary of Laval, Quebec-based Couche-Tard. Formed in 2012, Allentown, Pa.-based CrossAmerica Partners LP is a distributor of branded and unbranded petroleum for motor vehicles in the United States and distributes fuel to approximately 1,200 locations and owns or leases approximately 900 sites. With a geographic footprint covering 31 states, it has relationships with several major oil brands, including ExxonMobil, BP, Shell, Chevron, Sunoco, Valero, Gulf, CITGO, Marathon and Phillips 66.

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